Supplier Returns

Hi Jessie2011 , assuming you use AccountRight, the problem is not the average costing, it's that the return is added back to stock at 10% higher cost, incorrectly. So the only way to get the return posted is to record an Inventory adjustment first to add that extra cost. You might need to start the credit,then check the recap screen (Edit, recap), which may show you the cost being used.

Hi Jessie2011,

I agree with Mike_James' suggestion. Additionally, by adjusting the inventory and creating a credit note, you ensure that MYOB reflects the product return accurately. The key is to handle the inventory adjustment first and then create a credit note that matches the original purchase cost.

Feel free to post again, we're happy to help!

Regards,
Earl

Not sure why you mean stock is added back incorrectly at 10%? I'm not adding anything back trying to send it to the supplier. I am simply talking about returning all my stock to the supplier at the price I paid them. The average costing, due to whatever reason, now is at a lower cost than the purchase price that seems to be the issue. I followed the MYOB Help which was to raise a Bill with negative quantities, when I go to "record' I get an Error Message "Processing this purchase would leave the item with no items on hand and a non-zero value in inventory". I am unable to proceed any further. This should be a simple process. I'm not an accountant but would think that trying to tweak the cost surely affects P&L with mythical values? Besides I need the Return to reflect actual price paid to the supplier. 

Not sure why I would "adjust the inventory" and I am trying to create a credit note that is the issue. I am returning all the inventory which is correct following a stock take. Confused sorry

Hi Jessie2011 , since you are returning all the book stock, you will need to adjust the value of your stock to match the value of the return. And if I am right about the program fault I mentioned, you'll need to adjust that value to be 10% higher. 

Hi Jessie2011, 

I get your frustration about the stock return issue and the error message you're seeing. In MYOB, you usually raise a bill with negative quantities when returning items to a supplier. However, the lower average cost of the item in your inventory compared to the purchase price might be causing the problem. You could try adjusting the average cost of the item in your inventory to match the purchase price before making the return. Therefore, it's important to talk to your accountant or financial advisor before doing this, as it could impact your profit and loss statement. Let me know how you'd go with this and if you require further help.

Kind regards,

Shella